Peel Hunt cut shares of Greggs (LON:GRG) to a reduce rating in a report issued on Thursday, ThisIsMoney.Co.Uk reports.
Other equities research analysts have also recently issued research reports about the company. HSBC upped their target price on Greggs from GBX 1,600 ($20.91) to GBX 2,000 ($26.13) and gave the stock a hold rating in a research report on Tuesday, May 21st. UBS Group reaffirmed a hold rating and set a $130.00 target price on shares of Continental in a research report on Wednesday, May 15th. Berenberg Bank reaffirmed a buy rating and set a GBX 800 ($10.45) target price on shares of John Menzies in a research report on Friday, May 17th. Finally, Shore Capital reaffirmed a hold rating on shares of Greggs in a research report on Tuesday, May 14th. One analyst has rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus price target of GBX 1,765 ($23.06).
Shares of LON GRG opened at GBX 2,466 ($32.22) on Thursday. The company has a market cap of $2.49 billion and a PE ratio of 38.23. The firm has a 50 day moving average price of GBX 2,299.54. Greggs has a 52 week low of GBX 939 ($12.27) and a 52 week high of GBX 2,496 ($32.61).
Greggs plc operates as a bakery food-on-the-go retailer in the United Kingdom. It offers a range of fresh and frozen bakery products, sandwiches, drinks, snacks, small cakes and muffins, breakfast products, and sweet bakery treats, as well as porridges, salads, and soups. The company sells its products through its shops in travel, leisure, and work-centered catchments; and franchised stores in motorway service stations and petrol forecourts.
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